Figure 5-16
Figure 5-16 shows Adam’s purchases of bananas and apples when apples cost $5 each and bananas $4 each. The information implies that Adam’s income
A. must be $9.
B. must be $20.
C. must be $40.
D. cannot be determined without further information.
Answer: B
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A) Experiments are restricted to laboratories. B) Experiments are carried out only in the study of economics. C) Experiments help determine cause and effect between variables. D) Experiments require the division of participants into a treatment group and a test group.
Which is NOT an example of signaling high quality in a social setting
a. wearing everyday clothes to a job interview b. leaving a big tip for the waiter after a dinner date c. offering an expensive engagement ring to your bride d. Visiting the beauty salon before a big date
_____, the lesser will be the effect of an increase in government spending on real GDP
a. The smaller the crowding-out effect b. The smaller the percentage of government spending financed by tax increases c. The larger the government budget surplus d. The more rapidly money is converted into goods e. The steeper the aggregate supply curve
Which of the following about costs is always true?
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